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TEL AVIV, Israel & NEW YORK--(BUSINESS WIRE)--Today, monday.com,
the team management platform on a mission to connect people to workplace
processes, announced it raised a $50 million Series C round, bringing
total funding to $84.1 million. New York-based growth equity firm,
Stripes Group, led the round with participation from existing Series A
and B investors, Insight Venture Partners and Entrée Capital. As monday.com continues
along its rapid growth trajectory, the company also secured a strategic
line of credit from LeumiTech, the technology banking arm of Bank Leumi,
providing the company with additional non-dilutive capital to scale.

Launched in 2014 with offices in Tel Aviv and New York, monday.com is
simple and flexible enough to meet the needs of just two people working
together, as well as vastly complex workplace operations of thousands,
spanning different departments and time zones. The product’s intuitive
design, uniquely flexible structure and exceptional scalability has
driven widespread appeal across over 200 business verticals, from
tech-savvy to non-tech-savvy alike. Active paying customers include
Carlsberg Group, Discovery Channel, McDonalds, and WeWork, among over
35,000 others.

“We are determined to bring the quality and ease of use typically
reserved for consumer products to the enterprise,” says Roy
Mann, co-founder and CEO at monday.com.
“To effectively change how teams work, they must actually love the tools
they use, and that is our goal in building monday.com.
We continue to see incredible results from the change the platform
inspires in the workplace and the widespread cross team adoption as a
result. We’re delighted to bring on a new partner in Stripes Group to
blaze this path together.”

In the last year, the fast-growing company tripled revenue into the tens
of millions of dollars, tripled its customer base to more than 35,000
paying teams worldwide, and more than doubled overall headcount to
130. The new funding will be used to accelerate monday.com’s
ambitious growth strategy, scale international operations, develop
further product integrations, and continue to refine vertical-specific
customization.

“We are thrilled to be partnering with Roy, Eran, and the rest of the monday.com team
in their mission to transform the way people work together,” said Ken
Fox, Founder and Managing Partner of Stripes Group. “monday.com’s
broad applicability across use cases, verticals, and geographies
position it well to be the next truly horizontal platform for the
enterprise.”

In conjunction with the closing of this Series C round, monday.com is
launching three transformational new product offerings today that will
further expand the platform’s ability to manage the core of any business
and eliminate silos in the workplace. The new features will enable users
to further customize the perfect workflow for their team without an
arduous development process.

Introducing:

The Column Center:An addition of 15 new
functionalities to the essential structure of the platform that
facilitate any sort of data input such as time tracking, creation log,
location views, and more

Board Views:Anew way for teams to
visualize, understand and extract data from the platform, all while
increasing engagement

monday Stories: A community of monday.com users
where use cases and best practices can be shared across over 200
business verticals

In this exciting evolution of the visual and easy-to-use platform, monday.com is
further empowering teams around the world to work better together.

monday.com (formerly
dapulse) is a team management platform designed to connect people to
processes while creating an environment of transparency in business. As
a web-based SaaS company, monday.com facilitates
a more efficient and intuitive way to manage teams and entire
operations. monday.com has
raised $84.1 Million to date and investors include Stripes Group,
Insight Venture Partners, Entrée Capital, and Genesis Partners. With
offices in Tel Aviv and New York, the tool is fully customizable to suit
any business vertical and currently has over 35,000 paying teams around
the world, from over 140 countries.

About Stripes Group

Stripes Group is a leading growth equity firm that brings a unique,
entrepreneurial culture to investing in Internet, Software and Branded
Consumer Products businesses around the world. For over a decade,
Stripes Group has been partnering to support high growth market-leading
companies with exceptional business models. For more information on
Stripes Group, please visit www.stripesgroup.com.

About Insight Venture Partners

Insight Venture Partners is a leading global venture capital and private
equity firm investing in high-growth software companies that are driving
transformative change in their industries. Founded in 1995, Insight has
raised more than $18 billion and invested in over 300 companies
worldwide. Our mission is to find, fund and work successfully with
visionary executives, providing them with practical, hands-on growth
expertise to foster long-term success. Across our people and our
portfolio, we encourage a culture around a core belief: growth equals
opportunity. For more information on Insight and all its investments,
visit www.insightpartners.com or
follow us on Twitter @insightpartners.

About Entrée Capital

Entrée Capital, with offices in Israel, UK, and the US, was founded in
2009 to provide multi-stage funding to innovative seed, early and growth
stage companies all over the world. Entrée Capital manages over $300m
across a number of funds and its portfolio includes SnapChat, Stripe,
Deliveroo, Prospa, monday.com,
Riskified, HouseParty, Stash, PillPack, SeatGeek, Coupang and over 60
other investments.